The long gestation period of the project coupled with price rises led to a bid to increase the Mumbai Metro fares. Legislative changes at that juncture brought into conflict the concessioning authority and the Central Government on this issue.
The Rs 23,136 crore Mumbai Metro line-3, which would link Colaba, Bandra, Santacruz Electronics Export Processing Zone, received approval from the union cabinet recently. The cabinet also approved the plant to set up a joint venture between the centre and Maharashtra government with equal shareholding between them. In line with the Delhi, Bangalore, Chennai and Kochi metro projects, the present special purpose vehicle (SPV), calle